SOLDIERS' LOANS

Auckland Star, Volume LII, Issue 282, 26 November 1921, Page 7

SOLDIERS' LOANS

UTILISING REPAYMENTS. SUGGESTED RE-ADVANCES. (By Telegraph.—Parliamentary (Reporter.) WELLINGTON, Frnday. The re-investment of advances made under the discharged eoldier settlers' scheme as they are repaid is the subject of an important recommendation in the annual report presented to-day. Roughly speaking £6,000,000 has been raised from loans, and will require to be repaid in order to reduce and defray the liability aoow resting on the taxpayers, whilst some £13,000,000 is available for reinvestment. The report suggests that one method of reinvestment is to follow on the lines authorised to the Public Trust Office, Government Life Insurance Department, or other State Department ■with accumulated funds. Another way is to follow o». the lines of the State Office, but with modifications suited to the developmental needs of the country. Now that the needs of the greater part of the large body of returned eoldiers have been met it may be advisable to establish a new system of advances to meet the requirements of •the coming generation of farmers, and for this purpose it may be deemed advisable to pass legislation to enable moneys that have been repaid under the Discharged Soldiers' Settlement Act. to be Te-advanced to eligible applicants taking up Grown lands for development purposes under conditions that satisfactorily safeguard the funds.

SOLDIER SETTLERS AND THE SLUMP. Unfortunately the drop in prices of wool and frozen meat adversely affected many soldier settlers who were juet beginning to make their farms pay, says the report, though a considerable number of postponements of rents were necessitated, and sympathetic consideration was shown by the Government. It is regretted that in some cases the settlers do not appear to have shown the necessary spirit of self-reliance and energy, and have applied for concessions or manifested reluctance to pay intercut or rent without sufficient justification. These re-marks arc qualified by the statement that they apply to only a comparatively small portion of the settlers, «. laT??e number evincing no desire to shirk their responsibilities.